Best of Luck,
Century 21 Tenace
The professionals are not doing a good enough job gettimg this info out.
When my husband and I bought our home, we too were in our 20's. Our agent/lender did not tell us about the CALHFA program which allowed us to put 3% down until I told them we would have to hold off on buying a home for another six months to a year so that we could build our savings up more. We did not want to go broke buying our home.
Once my lender saw I was serious about walking (for a while) all of a sudden she comes up with this program offered by the state of California(CALHFA)
Congrats on buying a home of your own. PLEASE TELL EVERYONE YOU KNOW ABOUT THE FINANCING YOU SECURED!!!
Kawain Payne, Realtor
"The Buyer's Agent"
And, Maria does have a point. The monthly difference between a conventional 20% down loan and a 3.5% down loan with PMI is not insubstantial. Roughly, it's about 30-40% more per month. Maybe your idea of nominal is quite different, but that's another discussion.